Apple Inc. (NASDAQ:AAPL) Shares Sold by RW Investment Management LLC

RW Investment Management LLC cut its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 6.9% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 27,331 shares of the iPhone maker’s stock after selling 2,020 shares during the period. Apple comprises approximately 0.8% of RW Investment Management LLC’s portfolio, making the stock its 9th largest position. RW Investment Management LLC’s holdings in Apple were worth $5,756,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Verus Financial Partners Inc. lifted its position in shares of Apple by 0.3% during the second quarter. Verus Financial Partners Inc. now owns 16,929 shares of the iPhone maker’s stock worth $3,566,000 after acquiring an additional 48 shares in the last quarter. Brown Financial Advisory raised its stake in shares of Apple by 3.8% during the 2nd quarter. Brown Financial Advisory now owns 1,364 shares of the iPhone maker’s stock valued at $287,000 after purchasing an additional 50 shares during the period. Core Wealth Management Inc. lifted its holdings in Apple by 1.7% during the 2nd quarter. Core Wealth Management Inc. now owns 2,968 shares of the iPhone maker’s stock worth $625,000 after purchasing an additional 50 shares in the last quarter. Lowery Thomas LLC boosted its stake in Apple by 0.7% in the 2nd quarter. Lowery Thomas LLC now owns 7,607 shares of the iPhone maker’s stock worth $1,602,000 after purchasing an additional 50 shares during the period. Finally, Klein Pavlis & Peasley Financial Inc. grew its holdings in Apple by 1.1% during the 2nd quarter. Klein Pavlis & Peasley Financial Inc. now owns 4,505 shares of the iPhone maker’s stock valued at $949,000 after buying an additional 51 shares in the last quarter. 60.41% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have recently commented on AAPL shares. Morgan Stanley restated an “overweight” rating and issued a $273.00 price objective on shares of Apple in a research report on Tuesday, September 10th. JPMorgan Chase & Co. restated an “overweight” rating and set a $265.00 price target on shares of Apple in a research report on Tuesday, September 10th. The Goldman Sachs Group lifted their price objective on Apple from $265.00 to $275.00 and gave the company a “buy” rating in a research note on Friday, August 2nd. Bank of America reaffirmed a “buy” rating and issued a $256.00 price target on shares of Apple in a report on Thursday, October 3rd. Finally, StockNews.com lowered Apple from a “buy” rating to a “hold” rating in a report on Friday, November 1st. Two analysts have rated the stock with a sell rating, twelve have given a hold rating, twenty-two have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Apple presently has an average rating of “Moderate Buy” and an average price target of $235.51.

Insider Buying and Selling at Apple

In other news, CEO Timothy D. Cook sold 223,986 shares of the company’s stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $224.46, for a total value of $50,275,897.56. Following the sale, the chief executive officer now directly owns 3,280,180 shares of the company’s stock, valued at $736,269,202.80. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO Timothy D. Cook sold 223,986 shares of the business’s stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $224.46, for a total value of $50,275,897.56. Following the sale, the chief executive officer now directly owns 3,280,180 shares of the company’s stock, valued at $736,269,202.80. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Chris Kondo sold 8,706 shares of the company’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $225.00, for a total value of $1,958,850.00. Following the completion of the sale, the insider now owns 15,419 shares in the company, valued at $3,469,275. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 412,746 shares of company stock valued at $93,021,362. 0.06% of the stock is currently owned by company insiders.

Apple Price Performance

Shares of NASDAQ AAPL opened at $226.96 on Friday. Apple Inc. has a 1 year low of $164.07 and a 1 year high of $237.49. The stock has a market capitalization of $3.43 trillion, a P/E ratio of 37.33, a P/E/G ratio of 2.18 and a beta of 1.24. The company’s 50-day moving average is $226.82 and its 200 day moving average is $214.03. The company has a debt-to-equity ratio of 1.51, a current ratio of 0.87 and a quick ratio of 0.83.

Apple (NASDAQ:AAPL) last posted its earnings results on Thursday, October 31st. The iPhone maker reported $1.64 earnings per share for the quarter, topping analysts’ consensus estimates of $1.60 by $0.04. The firm had revenue of $94.93 billion for the quarter, compared to the consensus estimate of $94.52 billion. Apple had a return on equity of 152.94% and a net margin of 23.97%. The business’s revenue for the quarter was up 6.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.46 EPS. On average, sell-side analysts expect that Apple Inc. will post 7.43 earnings per share for the current year.

Apple Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 14th. Shareholders of record on Monday, November 11th will be issued a $0.25 dividend. The ex-dividend date is Friday, November 8th. This represents a $1.00 dividend on an annualized basis and a yield of 0.44%. Apple’s dividend payout ratio (DPR) is 16.45%.

Apple Profile

Apple Inc designs, manufactures, and markets smartphones, personal computers, tablets, wearables, and accessories worldwide. The company offers iPhone, a line of smartphones; Mac, a line of personal computers; iPad, a line of multi-purpose tablets; and wearables, home, and accessories comprising AirPods, Apple TV, Apple Watch, Beats products, and HomePod.